Updates, advisories and surprises

(4:32 PM ET) SAN FRANCISCO (MarketWatch) - IBM Corp.
IBM, +0.47%
on Wednesday reported a second-quarter profit of $3.23 billion, or $2.91 a share, compared with a profit of $3.88 billion, or $3.34 a share, for the year-earlier period. Revenue slipped to $24.92 billion from $25.78 billion. Adjusted profit was $3.91 a share. Analysts polled by FactSet on average were expecting the company to report a profit of $3.77 a share, on revenue of $25.35 billion. The company updated its full-year earnings forecast, raising its adjusted profit estimate to at least $16.90 a share, excluding a $1 billion "workforce rebalancing charge." Analysts polled by FactSet on average were expecting $16.66 a share. IBM shares were up more than 2% in after-hours trading.

EBay's earnings in line, but forecast disappoints

(4:22 PM ET) SAN FRANCISCO (MarketWatch) -- EBay Inc.
EBAY, +0.19%
on Wednesday reported a second-quarter profit of $640 million, or 49 cents a share, on revenue of $3.9 billion. During the same period a year ago, eBay earned $692 million, or 53 cents a share, on $3.4 billion in sales. Excluding one-time items, eBay would have earned $822 million, or 63 cents a share, and met the estimates of analysts surveyed by FactSet. However, eBay's shares fell more than 5% in after-hours trading as the company gave a third-quarter outlook that fell short of analysts' forecasts.

American Express second-quarter earnings rise 5%

(4:16 PM ET) SAN FRANCISCO (MarketWatch) -- American Express Co.
AXP, +0.54%
said late Wednesday its second-quarter earnings rose 5% from a year ago, beating Wall Street earnings forecasts but falling short on revenue estimates. Shares of American Express declined 0.8% in after-hours activity, following a decline of 1.9% during the regular trading session. The firm reported earnings of $1.41 billion, or $1.27 a share, up from $1.34 billion, or $1.15 a share, in the year-ago period. Revenue rose to $8.23 billion from $7.97 billion in the year-ago period. Analysts expected earnings of $1.22 a share on revenue of $8.3 billion, according to FactSet.

Intel trims full-year forecast; shares bounce

(4:14 PM ET) SAN FRANCISCO (MarketWatch) - Shares of Intel Corp. slipped, then rose, in after-hours trades on Wednesday after the chip maker reported second-quarter results that included a reduced revenue forecast for the full year. The stock was last up up 0.5% in after-hours trades, as some analysts had been expecting the reduced guidance. Intel
INTC, +0.83%
lowered its full-year forecast by predicting that revenues would be flat compared to the previous year; the previous outlook called for a "low single-digit percentage increase" in revenues. The company also said it expects third-quarter revenue to come in around $13.5 billion, plus or minus $500 million. Analysts had been expecting revenue of $13.7 billion for the quarter. Intel cut its capital spending forecast for the year by $1 billion to $11 billion, plus or minus $500 million. Intel shares closed the regular session on Wednesday down 0.4% to $24.15 prior to the report.

SanDisk posts higher sales, profit

(4:12 PM ET) SAN FRANCISCO (MarketWatch) - SanDisk Corp.
SNDK
on Wednesday reported a second-quarter profit of $261.79 million, or $1.06 a share, compared with a profit of $12.97 million, or 5 cents a share, for the year-earlier period. Revenue rose to $1.48 billion from $1.03 billion. Adjusted profit was 84 cents a share. Analysts polled by FactSet on average were expecting the chip maker to report a profit of 93 cents a share, on revenue of $1.4 billion.

Intel earnings fall 29%; in line with forecast

(4:08 PM ET) SAN FRANCISCO (MarketWatch) - Intel Corp. said Wednesday afternoon that earnings fell 29% in the second quarter, though the final number came in line with Wall Street's estimates. For the period ended June 29, Intel
INTC, +0.83%
reported net income of $2 billion, or 39 cents per share, compared to net income of $2.83 billion, or 54 cents per share, for the same period last year. Revenue fell by 5% to $12.8 billion. Analysts were expecting earnings of 39 cents per share on revenue of $12.9 billion. Intel shares were down by 1.6% in after-hours trades following the report.

EBay shares hold steady with earnings on tap

(12:15 PM ET) SAN FRANCISCO (MarketWatch) -- EBay Inc.
EBAY, +0.19%
shares remained near their breakeven level Wednesday, edging up by 2 cents a share to $56.83, in advance of, due after the market close. Analysts surveyed by FactSet estimate that eBay will report a second-quarter profit of 63 cents a share, excluding one-time items, on revenue of $3.9 billion. During the same period a year ago, eBay earned 56 cents a share on sales of $3.4 billion.

Bank of America profit jumps 63%, beats views

(8:11 AM ET) LONDON (MarketWatch) -- Bank of America Corp.
BAC, +0.20%
said Wednesday its second-quarter profit increased to $4.01 billion, or 32 cents a share, from $2.46 billion, or 19 cents a share, in the second quarter a year ago. Revenue net of interest expense on a fully taxable-equivalent basis for the firm was $22.9 billion, up from $22.2 billion a year earlier. Analysts surveyed by FactSet expected the firm to report earnings of 25 cents a share on revenue of $22.78 billion. The bank said investment banking fees of $1.6 billion, excluding self-led deals, increased 36% from the year-ago quarter, citing a strong performance in debt and equity underwriting fees. Additionally, the provision for credit losses fell to $1.21 billion from $1.77 billion. Bank of America shares were up 0.8% in premarket trading.

Abbott Labs second-quarter profit falls 72.4%

(8:03 AM ET) NEW YORK (MarketWatch) -- Abbott Laboratories
ABT, +0.46%
Wednesday reported a plunge in second-quarter profit to $476 million, or 30 cents a share, from $1.73 billion, or $1.08 a share, in the year-ago period. The company said adjusted earnings from continuing operations, excluding some items, rose to 46 cents a share from 43 cents a share a year earlier. Net sales rose 2.5% to $5.45 billion from $5.31 billion. Analysts polled by FactSet had expected earnings of 44 cents a share on revenues of $5.52 billion. Abbott Labs maintained its full-year guidance for per-share earnings of $1.98 to $2.04 and per-share earnings from continuing operations, excluding some items, of $1.39 to $1.45.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.